While the concept of Corporate Social Responsibility (CSR) is based predominantly on the experiences of developed countries, the context in developing countries differs greatly, varying according geography, culture, and level of development. A survey was conducted in Macedonia with the aim of determining the local context and specifics of CSR through an analysis of four elements: the rule of law, competition and standards, complementary CSR institutions, and internal corporate structures and practices. It showed that an increasing number of companies are starting to consider CSR as an investment and not simply as a cost